Biomedical Errors And Ommissions Insurance, Biomedical Insurance

Biomedical Product & Research Liability

Insurance for innovation

Australia has developed a leading position in the biotechnology and medical research fields. However, this has been coupled with increased litigation around medical product liability and biomedical errors and omissions. For this reason, insurance is now a central plank in any medical, biotech or pharmaceutical company’s risk management program.

Insurance House keeps you protected with the best biomedical errors and omissions insurance. With a wealth of experience and expertise in the industry, we build security and effective risk management into the complex work that you do. We offer cover and expertise in the following areas of biomedical insurance:

• Medical product liability to safeguard against claims involving drugs under development that are forwarded to other facilities around the world for further trials.
• Bio-medical errors & omissions indemnity for financial loss exposure arising out of negligence, error or omission or bodily injury to research subjects
• Directors and officers insurance for research companies who generally have low equity in their balance sheets and a constant need to raise funds.

Your biomedical risk experts

Very few Australian insurance brokers have any knowledge of the bio medical product liability and errors and omissions area. Insurance House is one of a few in our industry who has several in-house experts with extensive medical liability backgrounds.

Gary Gribbin, our most eminent medical malpractice specialist, spent over 10 years underwriting for one of Australia’s largest medical indemnity funds. He has bought this expertise into our brokering operations to the benefit of clients from all sectors of the biomedical and biotechnology industries.

As your risk partners with direct access into the London insurance market, we can deliver an enhanced level of medical product liability coverage. We are unique in our industry for the diversity of expertise we offer – both in the industries we serve and the insurance market knowledge and networks we use.

Free access to IH Business Assist

Your medical product liability insurance plan is supported by exclusive access to IH Business Assist. This program offers:

• Full financial analysis assistance from expert advisers
• Comprehensive review process across a range of business risks
• Individual service from an experienced Account Manager and Support Team
• Other support services including claims analysis and consulting, valuations, access to our online knowledge bank and subscription to our quarterly newsletter.